It still seems to be going strong, but Im not sure how long I should expect it to be able to last. Thieves tend to target cars that use catalytic converters with high levels of precious metals, for example hybrid cars. are less likely to steal it because it will be a much harder sell to aftermarket dealers. as a significant other or related to you), then youre not covered if they snatch your things. ). However, due to environmental protection laws, you could face some hefty fines if youre caught driving a vehicle without one. Homeowners insurance provides no coverage for catalytic converter theft because the pilfering of this item is categorized as an auto-insurance issue. Texas is leading the list with 946,717 property crime rates in 2021, check out our guide to some of the most eye-opening burglary statistics, Personal property coverage helps pay to replace your belongings if theyre stolen or damaged by a covered risk, such as theft, fire, windstorm, etc (named perils, in insurance-speak, Loss of use helps pay for things like your hotel bills or storage costs if your rental becomes unlivable, due to things like fire or windstorm, Youre the one who stole something (never a good look), It happened somewhere you rent thats under construction, Figuring how much it would cost to replace your stolen or damaged property with a similar item today (aka thereplacement cost), Subtracting the loss in value over time due to age, wear, and tear (depreciation). Most people tend to underestimate the value of what they own, probably because its been acquired over years from a variety of sources. 2. However, these items would likely be covered by a homeowners or renters insurance policy. Mechanically speaking, yes, you can drive without a catalytic converter. The average price is around $1,000. When filing for an insurance claim concerning the theft of a catalytic converter, a police report is mandatory. His six-year background in broadcast news has given him his professional footing and taught him to walk the line between informing and entertaining. It depends. Theyve been a. requirement for vehicles sold in the United States since 1975. Etch your license plate number or VIN onto your catalytic converter this may help alert a . Does Homeowners Insurance Cover Termite Damage. 2023 Elephant Insurance Services, LLC. In fact, buying a car is one of the largest purchases most consumers will make in their lifetimes. Once a car owner declares they have been rejected . Contact your insurance company ASAP. Never worry about your personal property. When you start the car, it may be much louder than usual because a stolen catalytic converter will disconnect the muffler. Home means comfort, and comfort means coverage. It is illegal to drive without a catalytic converter, not to mention its detrimental effect on the environment. Your policy covers theftand probably more types and instances of theft than youd expect. Also, get to know your neighbors, and who comes in and out of the building regularly. However, if you have comprehensive insurance coverage, the theft of a catalytic converter will be covered by your policy. Replacing and installing a new catalytic converter can be as much as $3,000. Learn what paperwork, training, and tests need to be completed before receiving your CDL in Minnesota! If your own catalytic converter is stolen, having comprehensive coverage on your car insurance policy can help cover the cost of a replacement. Toyota vehicles of all kinds have become known as sitting ducks for catalytic converter theft due to their ease of access. These are easy to steal and have high value in the market, even if sold separately. Btw, take note that renters insurance doesnt cover car theft. Your insurance policy will have a clearly stated maximum, and if the value of your belongings is higher than the coverage maximum, you may find yourself without enough reimbursement to replace your possessions. Renters insurance covers your personal belongings in case of theft, fire and other disasters. And what does renters insurance cover you for in the first place? For older-model vehicles, its not uncommon for a stolen catalytic converter to produce a total loss, although the car is otherwise undamaged. Now lets dig into a practical example of when theft would and wouldnt be covered by your renters insurance company: Lets say you go out for a movie with a friend, and come home to find that a burglar broke into your place and stole your TV, computer, sound system, a bunch of expensive jewelry, and your friends backpack which had a laptop and headphones inside. . There are two considerations when youre deciding how much coverage you need, because its not just how muchits what kind. From 2008 to 2015, vehicle owners reported 25,394 thefts, according to the National Insurance Crime Bureau (NICB). Automobile insurance in Texas is offered by Elephant Insurance Services, LLC and underwritten by Elephant Insurance Company or Redpoint County Mutual. A locked garage will always be the best defense, but motion-activated lights and populated areas can be strong deterrents if you have to park your Toyota on the street or in a lot. Stolen cash (but subject to a certain amount) Theft by your roommate (except if they're a family member) Bike theft (can be subject to . Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is . Then, you have the price of car Read More, In the state of Indiana, if youve been cited for driving without auto insurance, or if youve committed a serious moving violation or other infraction on the road, you may need to obtain a document called an SR-22. What do all of these mean? The answer is: it depends. Your comprehensive deductible will apply to the claim, so if you have a . Some policies or endorsements provide coverage on a replacement cost basis. Because your policy is attached to your rented space, theft of personal items from your home is covered. very quickly! Renters insurance will only pay for the loss of your personal possessions stolen from your car or if your car gets stolen. Is catalytic converter theft covered by insurance? The Best Renters Insurance Companies of 2023. Again, these thefts, as frustrating as they are, should result in claims on your auto insurance policy. It has not been previewed, commissioned or otherwise endorsed by any of our network partners. If yours disappears in the night, your comprehensive auto coverage will . The research revealed that car owners could even be at risk of having their car written off entirely as the price of replacing the catalytic converter could be higher than their car's value. Especially if some of the items are inherited from family members or received from friends, it can be hard to place a value on them. If you own a Toyota, you need to understand why your Toyota is such a prime target for theft and how to keep this expensive part protected with anti-theft devices and additional, How to save on Toyota car insurance costs. If this is the case, it will reject your claim. Toyota vehicles seem to be among the top targets. The Cat converts the toxic gases and pollutants coming from the engine through the exhaust into cleaner . Solved! Your next call should be to your insurance agent to figure out if catalytic converter theft is covered by your insurance package. Before coverage kicks in, youll need to reach your policys deductible. Palladium alone sells for nearly $2,500 an ounce. Yes! Consider these tips to help protect your car from catalytic converter theft: Know if your car is a likely target: hybrids, SUVs and trucks have valuable or easily removable catalytic converters. We are no longer supporting IE (Internet Explorer) as we strive to provide site experiences for browsers that support new web standards and security practices. If youre in a rush, feel free to check out our brief summary below. Damage or loss from other events can be equally as devastating to your personal property as theft. While your landlord is responsible for any damage to your walls or the structure of your home (within reason), they arent responsible for you or your personal items. One because they're more valuable and the other, because they are easy to get to. Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Texas, Virginia, Washington, Washington, D.C. (not a state yet), and Wisconsin. The Toyota models most targeted by catalytic converter thieves. To maximize either type of payout, youll want to assemble a digital file into which you scan copies of purchase receipts, appraisals, and photos of your items to support your claim should you need to file one. They are then sold for a few hundred dollars to scrap recyclers. The average cost to replace a Subarus catalytic converter can range from, Your catalytic converter replacement cost will depend on different factors, like labor costs where you live, and which Subaru model you drive. While every policy is different, renters insurance typically covers smoke or fire damage, certain types of water damage, accidents or injuries in your home. The insurance company will do some math, determine how much age and wear and tear have depreciated the value, subtract that from the original value, and pay you whats left. , making it no surprise it lands as the #2 target. 2. Knowing youre properly insured can add to your peace of mind, and if a theft does occur, youll be able to file a claim and begin replacing and rebuilding quickly. Statistics from the National Insurance Crime Bureau (NICB) show that catalytic converter theft has been steadily increasing for quite some time, and in recent years. Does renters insurance cover theft from your car? A CARFAX report shared in November of 2022 identified the following vehicles as being some of the, top targets for catalytic converter theft, While no Subarus make CARFAXs top 10, they do start to make an appearance when the data is broken down by region. Score: 4.8/5 (71 votes) . Solved! Then youre going to want to get your car to an auto shop. Have more questions about renters insurance? Leave a Reply Cancel reply. We've all heard stories of car break-ins where thieves target a purse, stereo system or other valuables left inside the vehicle. Theft is usually deemed out of your control, so it is a covered event in nearly every policy. Its been a mandatory part of all gas-powered cars since the 1975 model year, and its located between the engine and the muffler on the underside of the vehicle. Members save $872/year. Renters insurance does cover if your car is stolen or something in your car is stolen, but not parts of the car itself. There are a few simple steps you can do to protect your car from a catalytic converter thief: Following these simple steps will at least prevent your car from being an easy target. Catalytic converter theft is on the rise and to a shocking degree. Depending on the make and model of the auto, the cost can be approximately $1,000. Unfortunately, theyre not covered under your policy. How do you do this? If the car itself is stolen, however, youll have to file the claim with your auto insurance company (which should provide coverage for it if your policy has comprehensive coverage). Reports say these devices can be worth up to 600 on the black market because of the precious metals inside them. It consists of a ceramic honeycomb coated in metals (typically platinum, rhodium, and palladium . Fortunately, comprehensive car insurance should cover theft-related problems. Items of significant value, such as fine art, jewelry, and furs generally need additional coverage. Find insurance savings it's 100% free, Compare Free Quotes (& Save Hundreds per Year! If you have a rental with a yard and garage, those areas are included in this coverage as well. Otherwise, your renters insurance can cover you, but there are a few things youll need to do. If your catalytic converter is stolen, you should contact your local police department and file an official report. Insurance covers your personal belongings in case of theft than youd expect to target that... Concerning the theft of personal items from your home is covered by your policy covers theftand probably more and. The market, even if sold separately market because of the building regularly policy covers theftand probably more types instances. And palladium hundred dollars to scrap recyclers pay for the loss of your personal belongings in case of theft fire... Replacing and installing a new catalytic converter, a police report is mandatory as much as 3,000! 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